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Penalty charged by bank

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(Querist)
02 April 2010 Penalty charged by bank against stock delay & QIS delay in case of Export.Whather it will be disallowed as per ITax Act or not.

Plz give me explanation also.

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ManjeetMehra
Ca-Final.
9968515470
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CA Gangadhar Mishra

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CA Gangadhar Mishra (Expert)
02 April 2010 it is allowable expenses.
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CA Ravi Sisodia

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CA Ravi Sisodia (Expert)
02 April 2010 yes allowable expenses.
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
04 April 2010 yes. allowable expenses

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